Using PayPal for Your Small Business In 2019

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USING PAYPAL FOR YOUR SMALL BUSINESS IN 2019
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PayPal started in 1990s and launched an expedient
digital payment system that supports online money
transfers, revamping the traditional payment
processing methods. You might have used PayPal
services as a consumer to wire money to friends
or pay for online shopping.
Since the PayPal launched, more and more
contending merchant services have come up to help
businesses of every size with payment processing
products and services. With the latest payment
processing system surfacing, PayPal has evolved
too, with more personal and business options for
online and offline transactions.
Currently, PayPal is offering a complete suite of
financial products for small businesses and large
enterprises. Here is a detailed guide on how to
set up and use PayPal for your business based on
your needs along with its pros and cons.
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Setting Up PayPal for your Business
The benefits of creating a PayPal business
account include the following

• Cary out business activities under a name
  (Company or Group)
• Accept all types of payment at little fees
• Increase checkout conversion by setting up a
  payment gateway
• Receive payments from customers without PayPal
  accounts
• Enable subscription payments for your services
• Give employees limited access to your account
  with multiple logins
• Explore PayPal business loans and PayPal
  working capital solutions
• Integrate your PayPal account with many other
  shopping carts
• Set up recurring payments with your PayPal
  account
• Propose financing options to your customers

Every payment processing service understands that
small businesses rely on them to collect and
transfer payments rapidly and conveniently. For
that reason, PayPal has rolled out numerous
features for business account that cater
particularly to small businesses. The first
step is to create a free PayPal business account
by providing your basic information about your
company confirm your email, provide your
business name, and access your funds. Its that
simple!
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PAYPAL SMALL BUSINESS SOLUTIONS
PayPal provides all-inclusive solutions to small
business. Heres an overview of the PayPals
small business solutions
Payment Processing
PayPal Lending
PayPal Payouts Mass Pay Options
PayPal Credit Line of Credit
PayPal Here App Accept Payments in-Store or
On-the-Go
PayPal Business Debit MasterCard
Online Payment Services Solutions
PayPal Shipping Service
Invoicing
PayPal Integration Software Solutions
PayPal Payflow Payment Gateway
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Payment Processing
PayPal is the pioneer in the payment processing
system and is being used by many B2C and B2B
businesses. The most popular payment solutions
for PayPal includes PayPal Payouts, online
payments, and PayPal Here. Payment processing
service is universal and offers plentiful
integrations with other systems. You might have
seen PayPal as an option in many checkout
processes.
The setup is quick and you can send and receive
payments in a matter of few minutes. Moreover,
the conversion rates of PayPal is high and being
it a trusted payment platform, customers count on
it for any additional information or request when
a transition interrupts or help is needed.
The only drawback of using a PayPal for business
is high fees than other traditional credit card
processors.
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PayPal Payouts Mass Pay Options
PayPal Mass Pay Options also called PayPal
Payouts is an extremely expedient way to send up
to 5,000 payments to multiple people at the same
time in one fell swoop. This feature can be
integrated with a robust Payouts API (application
programming interface) and it is the most
suitable option especially for those merchants
who have to pay to masses without originating ACH
drafts or cutting checks at a flat cost of 0.25
per transaction or a 2 transaction fee for
domestic payments made via PayPal website.
Using this feature not only saves time and
efforts but also simplify international payments
for merchants, help reduce the risk and manage
all kinds of payouts. The fee for the sender is
low, and a recipient doesnt pay anything. If a
recipient claimed the payment, canceling it can
be tricky and the recipient must already has a
PayPal account or create one and receive approval
to retrieve funds.
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PayPal Here App Accept Payments in-Store or
On-the-Go
PayPal Here App is a mobile payments solution
with a free Mobile Card Reader or Chip and Swipe
Card Reader, used by retail merchants to accept
credit and debit card payments from customers
anywhere. The app allows secure processing of
credit card payments, sales tracking, and
invoices creation, all right from your smartphone
or tablet. The benefits include no setup fees,
monthly fees, cancellation fees, monthly
minimums, live customer support and no long-term
commitments. You only pay a 2.7 fee on most
transactions. The fees for key-in cards, invoice
payments and cross boarder transfers are
expensive.
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Online Payment Services Solutions
With PayPal secure online payment solution, all
you need is to use your email address and
password for checkout. You dont have to provide
any credit card numbers or financial information
to make the online payments giving your
customers more options and reasons to buy. The
integration can be made by adding a PayPal button
in to your existing website or build a custom
checkout process page to make the online
payments. The customers make the payment with
their PayPal balance, credit card, debit card, or
a linked bank account. They also provide purchase
protection to customers in case a purchase
doesnt appear, broke in transit, or is different
than what was ordered. The fee per transaction is
2.9 plus 0.30.
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Invoicing
PayPal has made requesting payment easy and
interactive with their customizable invoicing
templates with the option to add your logo,
contact information, and custom fields. The major
benefit of PayPal Invoicing is that the customers
can securely make payments in just a few clicks
and merchants can receive payments in minutes.
The merchants can also view billing history
online, track payments, and send reminders.
Moreover, theres no setup fee or monthly fee and
you only pay when you receive a payment from your
customers. The fee per transaction is 2.9 plus
0.30.
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PayPal Payflow Payment Gateway
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PayPals Payflow payment gateway is another
payment processing service for small businesses
with up to a 44 higher online checkout
conversion. The payment gateway focus on mainly
on the online transactions. It allows merchants
to accept credit card payments directly from a
website, irrespective of the payment processor.
While using PayPal payment gateway, you can use
PayPal or any other credit card processing
service. PayPal Payflow payment gateway is
PCI-compliant and complies with fraud determent
protocols for online payment processing.
The major benefit of using PayPal payment gateway
is low rates and incremental sales boost by
offering PayPal Credit payment options on your
site at no added cost. It also works with many
merchant accounts, major payment processing
services, and shopping carts. It has two gateway
options with different levels of customization
Payflow Link at 0/month with PayPal-hosted
checkout and Payflow Pro at 25/month with
unlimited checkout customization.
There are optional features like advanced fraud
protection, recurring billing, and buyer
authentication for a low additional cost per
feature. This service is only available in four
countries U.S., Canada, Australia, and New
Zealand.
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PayPal Lending
PayPal offers faster, simpler ways to secure
lending for your small business. There are two
main types of lending products
PayPal Working Capital
PayPal Business Loans

• PayPal Business Loans are fixed-rate business
  loans from 5,000 to 500,000 with tailored terms
  (13 to 52 weeks based on loan amount), and
  predictable weekly payments.
• Eligibility Criteria
• You must have been a PayPal seller for at least
  three months
• Process annual sales between 15,000 and 2
  million

• PayPal Business Loans are fixed-rate business
  loans from 5,000 to 500,000 with tailored terms
  (13 to 52 weeks based on loan amount), and
  predictable weekly payments.
• Eligibility Criteria
• You need to have a PayPal Business account to
  fund your loan
• Your time in business must be 9 months at least
• Your business annual revenue should be 42,000 or
  more

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PayPal Credit Line of Credit
The best thing about PayPal Credit for your
business is that it brings about increased sales
and better conversions. Get 6 months special
financing on purchases of 99 with no cost to
you. In addition, the PayPal makes billing to
your customers.
With PayPal Credit, offer more financing options
to your customers so they can pay for goods or
services over time. Youll receive the payment
immediately at no additional cost, but your
customers can put off payment.
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PayPal Business Debit MasterCard
PayPal offers a Mastercard business debit card
with no annual fee and 1 cash back on eligible
purchases. The card is linked to your PayPal
account, allowing you to use your PayPal balance
online or in store whenever needed. You can also
make the cash withdrawal with an ATM from your
PayPal balance. You dont have to transfer money
from your PayPal account to you bank account.
Just quick access to the cash you need to
restock, make purchases or pay vendors whatever
you want to.
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PayPal Shipping Service
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Get PayPal Shipping service right from your
PayPal business account and saves on shipping.
With PayPal Shipping Center, you can send
shipping notifications, print shipping labels,
packing slips, custom forms and shipments
tacking. The major benefit of PayPal Shipping
service is that you get discounts because of
PayPals partnerships with UPS and USPS. Theres
no subscription or monthly fees!
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PayPal Integration Software Solutions
Almost every e-commerce business is using PayPal
services to facilitate transactions. They also
have detailed software development kits (SDKs)
with support for developers. The SDKs combined
with your business Point of Sale (POS) software
enable you to offer secure and steadfast payment
processing to your merchants. The benefits
includes integration with many platforms,
supports several programming languages and
widespread use enable easily availability of
developers to tweak your integrations.
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A One-Stop Shop for Business Services
PayPal is a one stop shop for small business
payment solutions. From payment processing
solutions to full-scale POS solutions and
software integrations, millions of customer that
are using PayPal around the world to compete.
Along with one-time purchases, it also the
quicker, easier way to make periodic payments to
all your monthly bills and subscriptions.
Getting started is quick and easy but it might
cost you in higher transaction fees and for
custom additions. As a startup, its worth a try
just to get going. Once youre start growing, you
can reassess your options for better terms and
affordable transaction fees. Overall, using
PayPal for your business model is a good fit
considering 87 million active accounts in 190
markets and 24 currencies around the world.